How can you afford to live in Thailand?

[Eye4you]

Just read about an English teacher overstayed mine months and facing deportation. I hear many young people here with Visa problems and yet so desperately want to stay in Thailand, and many who have been living here for years without a proffer visa indicate that they were without a job. Understand Thailand is an affordable living compare to developed countries, but there still are living expenses to pay. 

I am genuinely curious. Please enlighten me. 

Thank you.

[4MyEgo]

5 minutes ago, Eye4you said:

Understand Thailand is an affordable living compare to developed countries, but there still are living expenses to pay. 

I know of a couple of teachers (unqualified) who are employed by schools to teach English and they do all the Visa renewals for them. Those guys are on about 30,000-40,000 a month, and as single guys, they can afford to live here on that.

 

As for me with a family of 6, I generally need between 60,000 to 100,000 a month, derived from some consultancy work every now and again, interest from banks and investments in the share market.

 

The above said it was the latter amount for the past year of which it cost me about 11,500 baht per month to live here after all income earned and taxes were paid where required, so it is cheaper to live here than developed countries I agree.

 

 

[Lacessit]

Cost of living. Renting an apartment here is one-quarter of the cost of a comparable apartment in Australia.

They come fully furnished as well, which would be the exception in Oz.

Provided one is content to subsist on Thai food solely, it's very inexpensive. Or one can buy fruit and vegetables in the markets very cheaply.

I average about 60,000 baht/month in expenditure. In Australia, that might be the rent alone for one of the bigger houses.

[Enoon]

 

Spend within ones means.

 

It works everywhere.

 

PS You might have to endure the misery of not owning a Bentley Continental GT, you might have to settle for a Yaris......or maybe a Scoopy........or the bus.

 

 

Edited November 4, 2019 by Enoon

[SteveK]

Live in my wife's house. Eat local foods. Ride an old Honda Wave. Happy days.

[cornishcarlos]

I get paid shed loads, so it's easy ????

[bkk6060]

Work in your home country for over 30 years.

Get a fantastic retirement.

Come here and live a great life with plenty of dough to spare.

Seems life trying to work here and not or barely getting by, is not a good plan or a good life.

[Eye4you]

But how can you afford a Yaris or Scoopy when you don't have a paying job?

[samsensam]

 

for me it's being in control of my life and finances; always have, always will. i have a financial advisor who has never let me down. and i use common sense.

[baansgr]

Thailand is still very cheap to live regarding food, transport and utilities....where it goes wrong is an English teacher earning 30k or so falls in love with a local that needs her monthly salary...stay away from money grabbers, its paradise and very affordable....where else could you cook a healthy meal of chicken, veg and rice for 15 baht per person...easy if you dont dabble in the fairer sex

[BritManToo]

1 hour ago, Eye4you said:

Just read about an English teacher overstayed mine months and facing deportation.

You read about an Unemployed American who applied for a job as an English teacher.

I've just written a letter to NASA asking them to employ me on the next Mars mission.

Make sure you call me an English Mars Astronaut in future.

[Pilotman]

With the pound to Baht exchange rate as bad as it is now, it is no longer a particularly cheap place to live. I have a few index linked pensions, so the money keeps coming in, but their value has diminished by some 25% in 3 years due to the X change rate.  My utilities bills are about the same as I was paying in the UK, as is the weekly shopping bill.  Albeit we do eat a lot of western food, so that is expected. We don't go out to eat much at all, we don't travel much nowadays either and it will stay like that until the rate improves, if it ever does. The good thing is that we own our house, so no rent or bank loan to pay, same with the car. We live comfortably, but by no means lavishly.  

[baansgr]

1 hour ago, bkk6060 said:

Work in your home country for over 30 years.

Get a fantastic retirement.

Come here and live a great life with plenty of dough to spare.

Seems life trying to work here and not or barely getting by, is not a good plan or a good life.

And then those life savings are stolen/lost through love....

[SteveK]

15 minutes ago, Eye4you said:

But how can you afford a Yaris or Scoopy when you don't have a paying job?

Savings.

[petermik]

7 hours ago, Eye4you said:

But how can you afford a Yaris or Scoopy when you don't have a paying job?

I have had a house built here,I own a nearly new car and a wave....by being sensible with money in my earlier years...now I,m reaping the benefits and long may it continue

 

p.s. I own a semi detatched house back in the UK if I ever decide to return.

[gk10002000]

 Many don't spend money on any sort of Medical or travel or auto insurance.  No car loan, no car, maybe share a motorbike with another person.  Wardrobe is non existent, shorts and T-shirts, 100 baht flip flops.  Cheap but habitable rooms can be rented, some with air some without air if one is really skimping for < 5,000 baht a month in many parts of Thailand even arguably happening places as Pattaya and not necessarily out in the boondocks.    And if two or more share a place, they can actually be relatively comfortable.  <deleted> struggling to survive lifestyle, with not a lot of potential for growth.  Nothing wrong with a bit of a walk about, or taking some time to experience things.  But really is probably a better option to go home, get a better education, or trade, get some cash flow setup by saving and investing for earnings or dividends, etc.  Take time off a lot to go back to Thailand.  Work life balance.  But to go there like some of those youtubers do, get a few thousand baht a month to eat, well, not promising

[BritManToo]

21 minutes ago, Pilotman said:

My utilities bills are about the same as I was paying in the UK

 In 2009 I paid 500 pounds for a tank of oil that heated my home for 3 months,

electricity 50 pounds, water 30 pounds, internet 30 pounds.

In Thailand I pay 1,100bht/month for electricity, water 350bht, internet 631bht.

 

How can your utility bills between Thailand and the Uk be similar?

Mine are around 1/3.

Edited November 4, 2019 by BritManToo

[SteveK]

I worked for many years in a senior professional role in the UK which paid well but was soul destroying. As soon as I stopped trying to accumulate as much wealth as possible, I was actually able to start enjoying my life and it transformed me. Some of the happiest people in the world have very little wealth. If you're always chasing money, when does it stop? One million? Ten million? A billion? You'll drive yourself into an early grave chasing those dollar signs. Take the time to stop and look around you and you'll see there are much more important things in life than a number on an ATM screen.

[BritManToo]

1 minute ago, SteveK said:

I worked for many years in a senior professional role in the UK which paid well but was soul destroying. As soon as I stopped trying to accumulate as much wealth as possible, I was actually able to start enjoying my life and it transformed me. Some of the happiest people in the world have very little wealth. If you're always chasing money, when does it stop? One million? Ten million? A billion? You'll drive yourself into an early grave chasing those dollar signs. Take the time to stop and look around you and you'll see there are much more important things in life than a number on an ATM screen.

Agreed, corporate work is soul destroying, and I didn't even get any benefits, my Brit wife spent it all while I slaved away.

[gk10002000]

After my first trip in 2004 I immediately realized I wanted the freedom to spend a lot of time in Thailand.  I buckled down and saved and invested for dividends and interest.  I didn't just want a big net worth.  That doesn't pay the bills.  I could have punched out several years ago, but the money so good and I kind of enjoyed my job, I worked for an additional 3 years.  Well on Nov 1 I got fully vested in the company 401k contributions, so my retirement door is wide open.  My investments return me $62,000 a year right now or over $5,000/month, and about 1/2 of that is tax free due to tax free municipal bonds and fund investments and my ROTH IRA.  I have not even started Social Security yet (I am 62 1/2), and that would start right at $2,000 a month if I took it now.   My health is very good so I think I juggled the work/retirement balance pretty well.  I get USA Medicare at 65 which is reasonably priced and affordable.  So I have a few decisions about health care should I stop working fully.  USA medical is very expensive unless one keeps their income low.   Also if living outside of the USA one can be exempt from any and all Obamacare, although this year there is no penalty if not covered, so that may not be that relevant any more.  Either way, I was seriously considering getting good full Thai Medical insurance and spending much of the year in Thailand.  Do some contracting work in the USA now and then when I get bored.

 

Sadly the latest Thai Insurance, income transfer policies and what not are a detraction.  But just relatively minor issues.   I plan for $3,000 USD a month, but will budget for $4,000 a month, and will be able to live without even touching my equity principle.

[Tayaout]

I spend less than I get from my investments. Everything extra get reinvested. Me and my wife are not big spender. We rent a car when needed instead of buying one. We live almost rent free in the familly home while we are waiting for a good deal on a big land. I buy about 1 whole beef per year for 30-40,000 baht which save about 50%. I grow my own vegetables. 

Edited November 4, 2019 by Tayaout

[kevin612]

You need something like retirement or have a job.

[madmen]

1 hour ago, Lacessit said:

Cost of living. Renting an apartment here is one-quarter of the cost of a comparable apartment in Australia.

They come fully furnished as well, which would be the exception in Oz.

Provided one is content to subsist on Thai food solely, it's very inexpensive. Or one can buy fruit and vegetables in the markets very cheaply.

I average about 60,000 baht/month in expenditure. In Australia, that might be the rent alone for one of the bigger houses.

You must be joking . The OZ dollar is getting smashed into oblivion and headed for 15 baht  ! Your income is according to you is at a 7% return in oz. once the oz government taxes that and Then it gets smashed on the exchange rate here you would have <deleted> all left..Your investment strategy is woeful and yet you still claim and amazing lifestyle which is just nonsense

 

Quality accommodation in a desirable  location in a city here is not that cheap certainly not a 1/4 price but when expats here say its cheap thats because its a 4k mouldy fan room..more money for beer and girls for oz and UK pensioners I guess

[blackcab]

I think this topic is better suited to the Pub.

 

Moved.

[SteveK]

$62000 a year for doing nothing is insane. But I guess you must have worked damn hard for that so good for you. I get about 800 baht a year from the interest in my Thai bank. A lot of people probably get zilch.

Edited November 4, 2019 by SteveK

[Pilotman]

16 minutes ago, BritManToo said:

 In 2009 I paid 500 pounds for a tank of oil that heated my home for 3 months,

electricity 50 pounds, water 30 pounds, internet 30 pounds.

In Thailand I pay 1,100bht/month for electricity, water 350bht, internet 631bht.

 

How can your utility bills between Thailand and the Uk be similar?

Mine are around 1/3.

Elect, gas and water in the UK  £120 per month (4.700 Baht). My UK internet £30 pm (1,200).  Sky TV £45 (1,800).  Those numbers roughly equate to my bills here, bar True Vision but there is no real comparison between the excellent Sky service and the dreadfully poor True Vision offer.  Certainly my bills here are not a saving on my UK amounts. The only saving is in Council Tax, but that saving is somewhat off set by Thai company tax, ( and accountant) paid annually.  

[wgdanson]

1 hour ago, samsensam said:

 

for me it's being in control of my life and finances; always have, always will. i have a financial advisor who has never let me down. and i use common sense.

I wish I had had YOUR Financial Advisor, mine lost me loads !  

[Beggar]

What would you expect from a beggar? I let my cat work for me.

[Puchaiyank]

The OP has raised an interesting and compelling point...how many people do the math before they come here?  How many newbies even know what expenses to prepare for?

 

What TVF needs to provide as part of their service to the expat community is an "Affordability Calculator".  

 

I think expats would participate in sharing their common monthly expenses with the idea that it could become a useful tool in helping retirees see if they can qualify and maintain their visa status here...????

 

Could save some folk a lot of pain and hardship...

[BritManToo]

33 minutes ago, Pilotman said:

Elect, gas and water in the UK  £120 per month (4.700 Baht). My UK internet £30 pm (1,200).  Sky TV £45 (1,800).  Those numbers roughly equate to my bills here, bar True Vision but there is no real comparison between the excellent Sky service and the dreadfully poor True Vision offer.  Certainly my bills here are not a saving on my UK amounts. The only saving is in Council Tax, but that saving is somewhat off set by Thai company tax, ( and accountant) paid annually.  

My advice, turn the air-con off now and again.